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Financial disclosure for Gary Locke.


It wouldn't be so bad to have an annual salary of $533,000 and also be receiving a government pension of $120,750. So it is the case with the new Commerce Secretary, who was required to fill out a financial disclosure form, which was provided to Manufacturing & Technology News by the U.S. Office of Government Ethics.

Locke served as governor of the state of Washington from 1997 to 2005. He was in the Washington House of Representatives from 1983 to 1994 and was the King County Executive from 1994 to 1997.

For having spent more than two decades in public service, Locke was able to squirrel away a lot of money. He has millions of dollars of assets that provide him with tens of thousands of dollars in annual income. He owns stock in hundreds of companies.

Here is what he provided to the Office of Government Ethics:

Salary and Income:

* Davis Wright Tremaine LLP, Seattle (law firm salary), $533,000

* Washington State Retirement System (pension), $120,750

* Safeco Insurance Co. (director's fee), $101,000

* Safeco Insurance Co. (deferred fees/stock cashout), $467,000

* Key Technology, Walla Walla, Wash. (director's fee) $15,000

* Waggener Edstrom, Bellevue, Wash. (consulting fee), $19,250

Compensation in Excess of $5,000 paid by one source:

* American Pacific International Capital, Portland

* American Piledriving Equipment, Kent, Wash.

* Centaur International LLC, Lake Oswego, Ore.

* Festival Media, Seattle, Wash.

* Microsoft, Redmont, Wash.

* Pacific Prestige, Seattle, Wash.

* Pacific Insight, Los Angeles, Calif.

* Russell Investment Group, Tacoma, Wash.

* Verdiem Corp., Seattle, Wash.

* Washington Harbor Mgmt. Group, Bellevue, Wash.

* Western Pension Benefits Conference, Seattle, Wash.

* Weyerhauser Real Estate Dev., Federal Way, Wash.

* WPMI LLC, Lynnwood, Wash.

* Gerson Lehman Group, N.Y.

* Hainan Airlines, Seattle, Wash.

* Okaya USA, Seattle, Wash.

Assets Valued at between $250,001 and $500,000

* Washington Mutual Savings Bank (providing income of between $1,001 and $2,500 in 2008)

* Wells Fargo Advantage Money Market Fund (providing income of between $15,001 and $50,000 in 2008)

Assets Valued at between $100,001 and $250,000:

* Washington State Guaranteed Education Tuition

* Prime Money Market Fund RBC Inv. Class (providing income of between $1,001 and $2,500)

* Microsoft Corp. (providing income of between $5,001 and $15,000 in 2008)

Assets Valued at between $50,001 and $100,000:

* Quest Savings & Investment Plan (U.S. Stock Fund)

* Washington State Deferred Compensation (U.S. Stock Fund)

* Washington State Deferred Compensation (U.S. Stock Market Index Fund)

* 401(k) T. Rowe Price Mid Cap Value Fund

* Lincoln National Life Insurance (Whole Life - Two Policies)

* Minfo Seattle, Wash. (common and Series A-1 Preference)

* Costco Wholesale Corp. (proving him with between $1,001 and $2,500 in income in 2008)

* Esterline Technologies Corp.

Assets Valued at Between $15,001 and $50,000:

* U.S. Bank, Seattle Wash. (Cash Account)

* Washington State Employees Credit Union (Cash Account)

* Fidelity Ret. Govt. MM (providing between $1,001, and $2,500 in income in 2008)

* Templeton Funds World Food CI-A (providing him with between $201 and $1,000 in income in 2008)

* Amgen Inc.

* Associated Banc Corp. (proving him with between $2,501 and $5,000 in income in 2008)

* Calamos Invt. Tr Growth Fund B

* Powershares Global ETF Trust Global

* Starbucks Corp.

Assets Valued at Between $1,001 and $15,000

* Quest Savings & Investing Plan, Quest Common, Jacksonville, Fla.

* iShares Dow Jones U.S. Technology Sector Index Fund

* Vanguard Federal Money Market Fund

* Eden Rock, Bothell, Wash. (restricted stock: 50,000 vested shares)

* Stock holdings in the following companies: Apple Inc.; Barrick Gold Corp.; Ace Ltd.; Affiliated Computer SVC A; Ameren Corp.; Aegon NV NY Res. Shares; American Electric Power Co.; Allergan Inc; Akamai Technologies Inc.; Alcatel Lucent; Amazon.com Inc.; Aon Corp.; Anadarko Petroleum Corp.; Anglogoid Ashanti ADR; Alumina Ltd. SponsADR; Brandywine Rlty. Tr; Bristol Myers-Squibb; BP Plc. Spond ADR; Broadridge Financial; Berkshire Hathaway; Boston Scientific Corp.; Cameco Corp.; Cephalon Inc.; Cemer Corp.; CH Robinson Worldwide; Comcast Corp.; Rockwell Collins Inc. DE; Conocophillips; Costco Wholesale Corp.; Covidien Ltd.; Salesforce.com Inc.; Cintas Corp.; Cognizant Tech Sol. CI A; Cablevision NY GRP A; CVS Caremark Corp.; Chevron Corp.; Dell Inc.; Dean Foods Co.; Genentech Inc.; Dai Nippon Prtg. Ltd.; Daiwa House Ind. Ltd. ADR; Cent. Elec. Bras PFD CI B; Consolidated Edison Inc.; Endurance Specialty; Entergy Corp.; Expeditors International Wash. Inc.; Fujifilm Holdings Corp. ADR; Currency Japanese Yen; General Electric Co.; Genzyme Corp.; Golf Fields Ltd. ADR; Gilead Sciences Inc.; SPDR Gold Trust ETF; Google Inc.; Genuine Parts Co.; Gap Inc.; Hachijuni Bank Ltd. ADR; Health Care REIT Inc.; HCP Inc.; Home Depot Inc.; Hologic Inc.; Honeywell Intl.; Hewlett Packard; Schein Henry Inc.; IBM; Intercontinental Exch; Impala Platinum ADR; Intel; Intuitive Surgical; Ivanhoe Mines; JP Morgan Chase; Korea Electric Power Spons ADR; Kraft Foods; Kimberly-Clark Corp.; Kirin Holdings Co. Ltd. ADR; KT Corp. Spons ADR; Lihir Gold Ltd. Spons ADR.; LSI Corp.; Mattel; McDermott Intl.; Magna Intl.; Millcom Intl.; Monsanto; Mitsui Sumitomo Insurance; Meadwestvaco; Noble Energy; Newcrest Mining; Newmont Mining; Nisource; Annaly Cap Management Inc.; Nokia Corp. ADR; Nippon Tel & Tel Spons ADR; Nexen Inc.; Oceaneering Intl.; Old Republic Intl. Corp.; Panasonic; Pfeizer; Procter & Gamble; Progress Energy; Promise Corp.; Pentair; Quest Communications; Qualcomm; Rowan Companies; Royal Dutch Shell; Research in Motion; Rohn Co.; Range Resources Corp.; Scana Corp.; Societe General France ADR; Swisscom Spons ADR; Stora Enso Corp. ADR; Sega Sammy Holdings ADR; Siemens AG Spons ADR; Sekisul House Ltd. ADR; SK Telecom Ltd. Spons ADR; Schlumberger; Sara Lee Corp.; Sony Corp.; Sanofil Aventis Spons ADR; Sempra Energy; Shiseido Ltd. Spons ADR; Sumitomo Bank; St. Jude Medical; Suncor Energy; Seven & I Holdings Co. ADR; AT&T; TDK Corp; Telephone & Data Systems; Integrys Energy Group; Toyo Electronics; Telecom Italia; Technip; Tomkins PLC; Toppan Printing; Travelers Companies; Time Warner-Cable; Time Warner Inc.; Toyo Intl.; UBS AG; UDR Inc;. United States Cellular; United Utilities Group; Visa Inc.; Varian Medical Systems; Valero Energy; Vodafone Group; Verisign Inc.; Wacoal Holdings Corp.; Weatherford Intl.; Waste Management; Watson Pharmaceuticals; Xcel Energy; Yum Brands; United Utilities; Centrals Elec Bras.

Assets valued below $1,000:

* Stock in the following companies: Amgen; Air Products & Chemicals; Avon Products; CR Bard Inc.; Chunghwa Telecom; CPL Holdings; CSX; Eni Spa Sports; Hasbro; Hercules Offshore; Kinross Gold Corp.; Lonmin Plc.; Principal Financial; Pioneer Natural Reserves; Rogers Communications; Silver Standard Res.; Statoilhydro; Total SA; Steeltracks Gold Trust; Millennium Pharmaceuticals.

Assets of Uncertain Value:

* Key Technology, Walla Walla, Wash., restricted stock, 4,813 unvested shares;

* Edin Rock, Bothell Wash., 25,000 unvested shares (vest 7/1/09);

* Edin Rock, Bothell Wash., 25,000 unvested shares (vest 11/1/10);

* Blue Marble, Seattle Wash., stock options exp. 6/30/18@24 cents; 6,125 vested;

* Blue Marble, Seattle, Wash., 625 shares vesting 2/1/09 and every three months thereafter; maximum stock options, 10,000 shares;

* General Biodiesel, Seattle, Wash., 5,000 vested options @$1 per share, exp. 90 days after resignation;

* Minfo, Seattle, Wash., 25,000 options vested at 8.8 cents per share; 25,000 options vested at 21 cents per share; 25,000 options at 21 cents per share vest 11/1/09; 25,000 shares @21 cents vested 11/1/10.

* Q-tires, stock options exp. 6/1/13, 10,000,vested shares at $1.25 per share.

COPYRIGHT 2009 Publishers & Producers Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.

Copyright 2009 Gale, Cengage Learning. All rights reserved. Gale Group is a Thomson Corporation Company.

NOTE: All illustrations and photos have been removed from this article.


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